'Pune Metro rail to be operational by 2021'

"For funding, we have started negotiations with World Bank and Asian Infrastructure Investment Development Bank of China," he added.

Nagpur, being the transportation hub of the country, always had large roads. Soon, the city will also get its first Metro, which is expected to carry 3.5 lakh passengers by 2019.

Commenting on the progress of Nagpur Metro, Dixit said the 38-km project is estimated to cost Rs 8,600 crore.

The company has commenced work on 22 km route and 5.5 km section will be ready in the current year with target of completing the project by December 2019.

"We have already completed funding arrangement, under which Germany's KFW will provide Euro 500 million and AFD (French Development Agency) will provide Euro 130 million assistance for Nagpur Metro project.

"The funding will be utilised for procurement of rolling stock, cars, electricity supply, traction and other infrastructure facilities," Dixit said.

For a Metro rail project, funding and land acquisition are two most important elements, which the Maha-Metro team has managed to achieve through successful tie-ups.

Maha-Metro has developed the indigenous technology and the construction cost is estimated at Rs 200 crore per km. The company hopes to keep fares at a reasonable level, he added.

Maha-Metro is also considering setting up more metro projects in other cities having 20 lakh plus population as per government guidelines.

Maharashtra is the only state in the country where three metro rail projects -- in Mumbai, Pune and Nagpur -- are progressing simultaneously.